Uniting Wealth Partners LLC Purchases New Shares in MongoDB, Inc. (NASDAQ:MDB)

Uniting Wealth Partners LLC purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the company’s stock, valued at approximately $698,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilltop National Bank boosted its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Avestar Capital LLC boosted its position in shares of MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after acquiring an additional 42 shares during the last quarter. Aigen Investment Management LP grew its holdings in shares of MongoDB by 1.4% during the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock worth $913,000 after purchasing an additional 55 shares during the period. Perigon Wealth Management LLC increased its holdings in MongoDB by 2.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock valued at $627,000 after purchasing an additional 66 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of MongoDB by 1.6% in the third quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock valued at $1,203,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total value of $2,333,716.65. Following the sale, the chief executive officer now owns 217,294 shares in the company, valued at approximately $60,840,147.06. This represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $242.67, for a total transaction of $253,590.15. Following the transaction, the director now directly owns 85,652 shares in the company, valued at approximately $20,785,170.84. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,857 shares of company stock worth $9,613,306 over the last quarter. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America reduced their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Piper Sandler decreased their price objective on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Stifel Nicolaus reduced their price target on shares of MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Loop Capital dropped their price target on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Royal Bank of Canada reduced their price objective on MongoDB from $400.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.84.

MongoDB Stock Performance

NASDAQ MDB opened at $180.19 on Thursday. The stock has a 50-day moving average of $240.77 and a 200 day moving average of $263.72. MongoDB, Inc. has a one year low of $170.66 and a one year high of $387.19. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of -65.76 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter last year, the firm posted $0.86 EPS. On average, equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.